POSCO breaks ground on new auto sheet line at Gwangyang works

Korean steelmaker POSCO formally broke ground Tuesday on a new hot-dip galvanizing (HDG) line at its Gwangyang works on South Korea's southern coast, the company has announced. The new plant is POSCO's response to the changing needs of its automotive manufacturing customers in the global low-carbon environment now emerging.

POSCO is investing KRW 480 billion ($359 million) in the plant that will have a capacity of 450,000 tonnes/year of coils and sheets for automotive outer body panels, the company said in a press release. Named '8CGL' – the line will be POSCO's eighth Continuous Galvanizing Line that its